A reader said the current counter-recession policies felt like "Mission Accomplished" all over again. Mark Thoma explains why:

The most recent employment report shows the unemployment rate rising past 10 percent even though it appears output may have already turned the corner, while new claims for unemployment insurance are still over 500,000, a number that indicates the economy is still losing jobs overall. In fact, I am worried that the peak in unemployment could lag even further behind the recovery than it did in]]>